Hello everyone, let's take a look at the BTC to USDT chart over the 4 hour timeframe. As you can see, the price is moving above the local downtrend line.
Let's start with the designation of the support line and as you can see the first support in the near future is $ 19207, if the support breaks down, the next support is $ 18,927, $ 18,702 and $ 18,470.
Now let's move from the resistance line, as you can see, the first resistance where the price is currently at is $ 19,528, if you can break it, the next resistance will be $ 19,822 and $ 19,197.
Looking at the CHOP indicator we can see that in the 4-hour interval some energy has been used up, but we have a little bit to continue the movement. On the other hand, the MACD indicator shows that we are still in a local downward trend.
Let's start with the designation of the support line and as you can see the first support in the near future is $ 19207, if the support breaks down, the next support is $ 18,927, $ 18,702 and $ 18,470.
Now let's move from the resistance line, as you can see, the first resistance where the price is currently at is $ 19,528, if you can break it, the next resistance will be $ 19,822 and $ 19,197.
Looking at the CHOP indicator we can see that in the 4-hour interval some energy has been used up, but we have a little bit to continue the movement. On the other hand, the MACD indicator shows that we are still in a local downward trend.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.